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Lib Dems to scrap business rates to "breathe new life" into high streets in South Kesteven

November 19, 2019 10:00 AM

The Liberal Democrats have announced plans to scrap business rates and replace them with a landowner levy, to "breathe new life" into high streets in Grantham and Stamford.

The party would replace business rates with a commercial landowner levy, based on the value of the land only. This would take the cost off businesses and help support high streets.

The proposals would cut taxes for businesses by 27% in South Kesteven.

By taxing landowners rather than businesses, half a million small businesses across the country would be spared the burden of property taxation.

Liberal Democrat candidate Harrish Bisnauthsing said:

"Many retailers and small businesses in Grantham and Stamford are under pressure from economic uncertainty, the rise of online retail and the burden of business rates.

"Yet this Conservative government is failing to get to grips with the crisis facing our high streets. Time and again they have promised reviews of business rates but have failed to take action.

"The Liberal Democrats will shift the tax burden from tenants to landlords, so we can breathe new life back into our high streets. We will stop Brexit and build a brighter future, giving local businesses the certainty and support they need to thrive."

Notes:

The Liberal Democrats have proposed that:

  • Business rates should be abolished and replaced by a Commercial Landowner Levy based on the value of commercial land only
  • The levy should be paid by owners rather than tenants
  • Commercial land should be taxed regardless of whether the buildings above it are occupied; the tax should also apply to unused and derelict commercial land